Data Center Company GDS International’s Series B Equity Raise Upsized To US$1.2 Billion Amid Strong Investor Support
SINGAPORE, Dec. 9, 2024 /PRNewswire/ — GDS International (“GDSI”), a leading data center pioneer headquartered in Singapore, today announced that it has entered into amendments to the definitive agreements for the Series B Convertible Preferred Shares new issue initially announced on October 29, 2024, as a result of which the new issue has been upsized from US$1.0 billion to US$1.2 billion at the same pre-money equity valuation.
The upsize was mainly committed by renowned new investors, including the SoftBank Vision Fund and Kenneth Griffin, CEO of Citadel. With the addition of the Series B proceeds, GDSI expects to have sufficient equity to capitalize the development of over 1 GW of total data center capacity.
The Series B new issue is expected to close by the end of this year.
Jamie Khoo, CEO of GDS International, commented:
We are delighted with the strong investor support for our Series B new issue, which enables us to upsize and add renowned new investors to our shareholder base.
“The success of this equity raise underscores the strength of GDSI’s vision and strategy. This additional funding will enable us to accelerate our plans to create new data center markets and to deliver state-of-the-art digital infrastructure solutions.”
READ the latest news shaping the data centre market at Data Centre Central
Data Center Company GDS International’s Series B Equity Raise Upsized To US$1.2 Billion Amid Strong Investor Support, source
